Royal Bank of Canada Decreases Holdings in Stem, Inc. (NYSE:STEM)

Royal Bank of Canada trimmed its holdings in shares of Stem, Inc. (NYSE:STEM – Get Rating) by 20.3% in the third quarter, Holdings Channel reports. The firm owned 501,241 shares of the company’s stock after selling 127,285 shares during the period. Royal Bank of Canada’s holdings in Stem were worth $6,687,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. purchased a new position in Stem in the 1st quarter valued at about $283,000. Bank of New York Mellon Corp boosted its position in Stem by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 691,925 shares of the company’s stock valued at $7,619,000 after buying an additional 30,779 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Stem by 9.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,946 shares of the company’s stock valued at $451,000 after buying an additional 3,477 shares during the last quarter. HighTower Advisors LLC boosted its position in Stem by 67.9% in the 1st quarter. HighTower Advisors LLC now owns 46,988 shares of the company’s stock valued at $516,000 after buying an additional 19,010 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Stem by 210.4% in the 1st quarter. Citigroup Inc. now owns 292,435 shares of the company’s stock valued at $3,220,000 after buying an additional 198,231 shares during the last quarter. 52.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stem news, CAO Rahul Shukla sold 4,193 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $8.23, for a total value of $34,508.39. Following the completion of the sale, the chief accounting officer now owns 3,807 shares in the company, valued at approximately $31,331.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.20% of the company’s stock.

Stem Trading Down 7.2 %

Stem stock opened at $7.37 on Monday. The company has a 50 day moving average price of $9.13 and a 200 day moving average price of $11.57. Stem, Inc. has a 52 week low of $5.72 and a 52 week high of $18.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.96 and a current ratio of 2.00. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.10 and a beta of 2.19.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Stem from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research report on Tuesday, January 10th. Susquehanna cut their target price on shares of Stem from $20.00 to $17.00 and set a “positive” rating on the stock in a research note on Friday, February 17th. Credit Suisse Group cut their target price on shares of Stem from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 21st. Roth Capital restated a “neutral” rating on shares of Stem in a research note on Monday, December 19th. Finally, Bank of America started coverage on shares of Stem in a research note on Friday, February 10th. They set a “neutral” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.36.

Stem Profile

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Stem, Inc operates as a digitally connected and intelligent energy storage network provider in the United States and internationally. It offers energy storage systems sourced from original equipment manufacturers (OEMs). The company also provides Athena, an artificial intelligence platform, which offers battery hardware and software-enabled services to operate the energy storage systems.